Blockchain developer Alchemy has added support for the second layer scaling solution, Polygon.
Faster Product Launches on Polygon
Alchemy is an infrastructure provider that helps developers build decentralized apps (dapps) on Ethereum and other networks.
With this new integration, developers on the Alchemy platform can now launch their Ethereum applications on Polygon.
Currently, Alchemy is home to about 70% of all Ethereum applications. This includes decentralized finance (DeFi) platforms like OpenSea, Aave, and Yearn.Finance.
The issue of limited throughput and high gas fees on Ethereum has driven developers and users alike to layer two solutions like Polygon.
The new support for Polygon will make it easier for Alchemy developers to access the layer two solution’s high-speed, low-cost, and scalable ecosystem.
Polygon has gained massive popularity lately due to its cheap transaction fees and scalability possibilities. The network has supported more than 380 million transactions from its 1.7 million unique wallets. It has also attracted several leading DeFi platforms in recent months, such as Aave, Kyber Network, SushiSwap, and Curve Finance.
Last month, Polygon announced its partnership with decentralized exchange (DEX) protocol 0x to raise $10 million for the DeFi sector. The capital would help support developers and fund relevant projects in the DeFi sector.
Alchemy Expanding Partnerships As Part Of Multi-chain Plans
Alchemy’s latest partnership with Polygon is part of its efforts to offer developers access to multiple networks as it aims to build a multi-chain system.
Last month, Alchemy announced that it would be supporting Ethereum scaling solution Optimism. This partnership would enable developers to build quickly and scale inexpensively, without touching a node.
With Optimism’s optimistic rollup Layer 2 technology, the major issues that exist in the Ethereum network, which has seen several developers opt for competitive networks, would be addressed.
Before Optimism, Alchemy had previously been partnered with Offchain Labs’ Arbitrum, Dapper Labs’ Flow, and Crypto.com’s Crypto.org as part of its greater plan to become multi-chain.
Meanwhile, Alchemy has had a good year so far. In April, the firm raised $80 million to power the blockchain industry.
The round was led by Addition and co-led by Coatue Management, the tech investment manager led by hedge fund maven Philippe Laffont.
Alchemy claims to have powered over $30 billion in transactions for tens of millions of users in 99% of countries worldwide and is committed to increasing its number of users.
bitcoinexchangeguide.com
08 July 2021 12:47, UTC